Kanye West and Adidas are said to have made a new deal to sell the remaining $500 million worth of Yeezy sneakers.
In October 2022, Kanye West’s relationship with Adidas came to an end. Now, reports say that the shoe company and Ye have agreed to sell the last $500 million worth of Yeezy shoes in 2023. The redesigned contract will reportedly only sell the rapper’s popular shoes that are already in stock. It will not sell his clothes or new designs.
The news comes after Adidas said earlier this month that they expect to lose $1.3 billion because they dropped the controversial performer. Adidas said at first that the split would cost them more than $250 million in profits and $500 million in lost sales. However, the new amount was a lot higher than what they had first thought.
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“The numbers tell the whole story. We are not doing as well as we should right now, “CEO Bjørn Gulden of Adidas said that the drop in profits would hurt the company. “2023 will be a year of change that will set the company up to grow and make money again. We will put all of our attention on our customers, our athletes, our retail partners, and the people who work for Adidas. Together, we will work to build brand heat, improve our product engine, improve our distribution, and make sure that Adidas is a great and fun place to work. adidas has everything it needs to be successful: a great brand, great people, great partners, and a world-class infrastructure. We need to put the pieces back together, but I’m sure that Adidas will shine again in time. We need some time, though.”
Kanye West and Adidas worked together for 10 years, but the company broke up with the Donda rapper last year because of his anti-Semitic comments. Ye has since tried to find a new place for his line, but he hasn’t been able to do so.